Calculators & Tools

How to get a Better Home Loan Deal

Posted on August 29, 2011

Bigger loans mean bigger discounts

If you have a big loan, you may be able to negotiate a cheaper interest rate or some discount, say for example someone who’s borrowing over $700, 000 dollars compared to someone who’s borrowing $250, 000, there might be a difference in the interest rate that can be negotiated, in some cases this could equate to thousands of dollars a year.

It’s always good to engage a mortgage broker in this instance, because they know which banks will negotiate on pricings and getting discounts at different times of the year.

Mix it up – loan structure

Different loan structures don’t suit all borrowers, and talking to a mortgage broker will ensure you are on the right loan structure for your financial needs and lifestyle. Different clients will have different needs, which means different loan structures. There are a variety of combinations you can do between fixed and variable rates as well as discounted rates. Talk to me today about creating the best structure for your finance needs.

Look outside the big banks

A lot of the smaller tiered lenders have some competitive pricing as well as some policies which tend to be more favourable to the consumer. It’s always a good option to consider other smaller lenders, apart from the major institutions. A lot of the smaller lenders sometimes have less fees, cheaper rates and so forth.

They’re also a lot more flexible in different policies in terms of employment, you know someone might be casual for a couple of years, and you might not fit a major institution. A lot of the second tier lenders tend to look at the deal outside the box.

As your mortgage broker I will be able to tell you who the credible lenders are from a wide panel.

Make sure your broker works hard

The loan process should be all about you, from your first free home loan consultation to the day you receive the keys to your new home, your mortgage broker will ensure that you feel confident at every stage of the home buying process.

Talk to me today for your obligation free home loan consultation, and get an expert on your side.